The global diabetes associated ophthalmic treatment market size is expected to reach USD 44.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. The increasing prevalence of type II diabetes, geriatric population, and availability of early detection techniques are some of the factors driving the growth. This is coupled with technological advancements and increasing awareness of early diagnostics to help increase the success rate of the available treatment options. An increasing number of clinical trials to assess new drugs and devices for the prevention and management of these ophthalmic conditions are expected to fuel market growth in upcoming years.
COVID-19 related diabetic and ophthalmic complications are expected to boost the market for diabetes associated ophthalmic treatment methods. COVID-19 has a long-term effect on diabetic conditions. This is expected to increase the demand for treatment procedures in upcoming years. An increasing number of initiatives being undertaken by governments and nonprofit organizations to increase diabetes associated ophthalmic disease awareness is expected to boost the adoption of devices used for the treatment. Furthermore, WHO and IDF are working together to prevent and control diabetes and ensure good quality of life for people worldwide by providing accessible treatment facilities.
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The diabetic retinopathy segment has captured the largest revenue share in 2020 followed by diabetic associated macular degeneration and glaucoma
The drugs segment dominated the market and accounted for the highest revenue share in 2020 owing to factors such as the presence of major key players operating in the global market, high adoption rate, increased clinical trials to develop innovative drugs
The hospitals segment is predicted to witness the fastest growth rate over the forecast timeframe due to the increasing number of patient visits and advanced infrastructure in hospitals as compared to other healthcare facilities. An increasing number of hospital admissions of diabetes patients is boosting the demand for the segment, thereby propelling the growth
North America held the largest revenue share in the market and is expected to maintain its dominance over the forecast period
Grand View Research has segmented the global diabetes associated ophthalmic treatment market on the basis of application, type, end-use, and region:
Diabetes Associated Ophthalmic Treatment Application Outlook (Revenue, USD Million, 2017 - 2028)
Dry Eye Syndrome
Eye Allergy & Infection
Diabetic Associated Macular Degeneration
Diabetic Macular Edema
Diabetes Associated Ophthalmic Treatment Type Outlook (Revenue, USD Million, 2017 - 2028)
Ambulatory Surgical Centers
Diabetes Associated Ophthalmic Treatment Regional Outlook (Revenue, USD Million, 2017 - 2028)
Middle East & Africa
List of Key Players of Diabetes Associated Ophthalmic Treatment Market
Johnson & Johnson Services, Inc.
F. Hoffmann-La Roche Ltd
Santen Pharmaceutical Co. Ltd.
Carl Zeiss Meditec
Ellex Medical Lasers Ltd.
Abbott Medical Optics
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